80% of first time home buyers are millennials – Here are 3 tips to get in front of them.

dotloop

March 09, 2015 | comments

A recent report in Forbes magazine stated that Millennials are now in the prime position to make a huge impact on the real estate industry. Representing more than 80% of first time home buyers, it’s expected that this group of individuals will shake up how real estate professionals think about promoting and providing their services.

Millennials are the type of people that prefer texting over phone calls. They want information immediately, whenever they want it. They’re the type of people who will seek out the best possible people to work with. With that being said, how do you capture business from this increasingly powerful group of people? How do you position yourself to cater to their unique set of needs?

Below we’ve listed 3 tips that will help you attract millennials to your business and help you capture more revenue as a direct result.

Use platforms that enhance the process
Millennials want an experience that’s easy for them and doesn’t require them to learn anything new. They’re a set of individuals that have had unlimited access to technology since birth and expect the tools that you use to enhance the real estate process, not bog it down. Using tools like dotloop allow you to provide the process enhancing platform – giving them instant access to everything that they need in any given real estate transaction.

Be where they’re already completing transactions
Millennials are using technology from the beginning to the end of a real estate transaction. With the introduction of tools like Zillow and Realtor.com, they leverage technology to begin their home search. Once they’re ready to put in an offer on their first home, they choose an agent that’s using technology that allows them to collaborate from anywhere, like dotloop. Because technology is so embedded into their daily lives, it’s important that you’re where they’re going to get deals done. Use programs like dotloop local ads and trusted service providers, which puts you inside the transaction as deals are happening, to capture business from these millennials.

Provide a referable experience
Millennials tend to rely on recommendations from other millennials for everything that they do. Whether that’s a suggestion for a movie or who they should use for their home warranty – they trust the people that they surround themselves with to help them with decisions in their lives. By providing an experience that is seamless, and ultimately referable, it’s in millennials nature to tell their family and social circles – leading to opportunities for more business.

When it comes to capturing some of the 80% of first time home buyers that are millennials, it’s important to consider the type of experiences they’re looking for during their home purchase. Leverage tools like dotloop to not only provide referable experiences, but also get in front of millennials so you’re top of mind when they need your services.

To learn more, visit dotloop.com/localads or call 513.246.0796